Nicaragua HANDBOOK Invest In Your Future IN LATIN AMERICA [email protected] USA/CANADA 1.800.290.3028 GRAN VINEYARD ESTATES ECIDEVELOPMENT.COM ARGENTINA Table of Contents Country Map 4 Basic Travel Information 66 Introduction 5 U.S. Embassy 51 Geography 6 Gaining Legal Residency 70 Weather & Climate 8 Dual Nationality 71 Clothing 9 Residency for U.S. Citizens 71 Society 9 Consulate Information in the U.S. 72 Language 9 Transitioning to Life Abroad 73 Religion 10 Doctors 75 Currency 10 Education 79 Government & Politics 11 Primary and Secondary Education 80 National Emblems 12 Attorney 82 Culture 13 Foreign Investment Law 83 Print Media 14 Investment Facilitation 83 Television 14 Financial Institutions 84 Holidays 15 Competitive & Productive Labor 84 Famous Nicaraguans 16 Free Zones or Export Zones 84 Cuisine 17 Cost of Basic Services 86 Places to Visit 19 Investment in Nicaragua 86 Shopping 20 Buying Property in Nicaragua 88 Outside the City Limits of Managua 22 18 Questions for Buying Real Estate 90 Hotels by Region 48 Why Gran Pacifica 92 Restaurants by Region 55 The Team 94 Travel To Nicaragua 60 Associates & Partners 94 Infrastructure and Transport 61 Business Model 95 Additional Boat and Ferry Info 65 Why ECI Development? 96 NICARAGUA HANDBOOK 3 NICARAGUA HANDBOOK 4 NICARAGUA HANDBOOK 4 NICARAGUA HANDBOOK Introduction Unsurprisingly to those already in the country, Nicaragua’s living and retirement opportunities have been endorsed and recommended by such leading news sources as U.S. News & World Report and NBC News. Nicaragua is currently one of the easiest and most rewarding places for an American tourist or expat to visit or live. These opportunities are driven by affordable real‑estate investment, low taxes, and a low cost of living coupled with a sustainable, high quality of life. However, that isn’t all that Nicaragua has to offer. Nicaragua’s natural and architectural beauty is unmatched, and the country also offers a helpful retiree benefits program and quality universal healthcare. Nicaragua also holds bragging rights to being the safest country in all of Central America. Instead of being plagued by worries of when or if you’ll be able to retire, or where you should visit and invest next, take a deeper look into the reasons you should consider Nicaragua. NICARAGUA HANDBOOK 5 NICARAGUA HANDBOOK Geography Nicaragua is situated in Central America Pacific Plains between Honduras and Costa Rica. It is conveniently located less than two and a The western flank of the country is the most half hours away from Miami or Houston by developed region, economically speaking, plane, making it ripe for U.S. tourism and evidenced by a third of the Nicaraguan ex‑patriotism. population living around Managua alone. It is known for being the region with the most It takes about five and a half hours to go from volcanoes and lakes within Nicaragua. the North to the South of the country by car along the Pan‑American Highway. Travel The Pacific Plains run from Nicaragua’s from West to East is easiest by plane. northwestern border with Honduras to its southwestern border with Costa Rica. Here An impressive 20 % of the Nicaraguan you will find the famous Lake Nicaragua and mainland is protected national parks and some of Nicaragua’s most famous volcanoes nature reserves. Many of Nicaragua’s unique including the Maribios volcanic chain, natural wonders are in pristine condition Masaya, and Maderas. because of these vast reserves. Furthermore, they are open to tourism and, in general, Both Nicaraguan plain regions are hotter and are easily accessible by car or public drier than the Central region. However, the transportation. Pacific region is where you can find most of the resort communities, modern cities, and Nicaragua’s geography is interesting and cultural heritage in the Spanish colonial cities unique in several ways. For starters, the of Granada and León. country is virtually split in half by a rain forest, which has created a Spanish speaking, economically growing half on the Pacific CENTRAL REGION coast and an English speaking, economically As the name suggests, the Central region stagnant half on the Atlantic coast. takes up most of the area in the center Nicaragua is slightly larger than of Nicaragua from north to south. It is a Pennsylvania, making it the largest country mountainous region with little to no flat in Central America besides Mexico. terrain. This may make travel a bit slower but fortunately the altitude gives respite to Though Nicaragua is essentially divided in the heat weary traveler since it lowers the two by the rainforest, geographically it has average temperature significantly. three separate regions: the Pacific Plains, the Central Mountains, and the Atlantic Plains NICARAGUA HANDBOOK 6 NICARAGUA HANDBOOK The Central Region is where you can find On the West coast, Spanish is the primary some of the most impressive Nicaraguan language and inhabitants are primarily cloud forests. The flora and the fauna of of mestizo descent. On the East coast of these forests include: mahogany, cedar, Nicaragua, English and several indigenous orchids, 200 species of birds, cougars, ocelots, languages are the primary languages spoken, and the jaguarondi. There are tremendous due to the fact that nearly 100% of the opportunities for hiking and other outdoor population is of indigenous or West Indian activities in this region such as mountain descent. climbing and camping. The culture of the Eastern coast of Nicaragua This region is responsible for a quarter of has a definitively more Caribbean feel than Nicaragua’s agricultural production. Farms the rest of Nicaragua. This simply adds to the in this region specialize in coffee and cigar diversity of foreign and domestic cultural tobacco, primarily near the city of Estelí. influences on the country. Here, one can get a taste of lush, untouched Here, as in the Central region, one can find nature, authentic local cuisine, and Spanish all kinds of flora and fauna living virtually colonial influences. unaffected by urban sprawl or industrial production. Just another reason eco‑tourists will find themselves enamored with ATLANTIC LOWLANDS Nicaragua. Though a traveler can find pristine nature Possibly the two most visited sites in this throughout Nicaragua, the Atlantic Lowlands region are the port of Bluefields and the is the true definition of unmarred. It covers Corn Islands, which are just off the coast of 56.2% of Nicaragua’s land mass, yet only 10% Nicaragua. Bluefields is a relatively small of the Nicaraguan population lives in this city but it has an interesting mix of Spanish, region. Due to the thinly dispersed population Indigenous, African, and English cultures that and the fact that there are few big cities in the cannot be found in many other places. On the region, this part of the Nicaraguan rainforest other hand, the Corn Islands are a Caribbean has thrived and become a destination for paradise with an abundance of aquatic hardy eco‑tourists. activities. The many rivers that flow through this primarily forested region are usually the only form of transportation from one town to another. Before you visit you should make sure that you are prepared and bring a suitable amount of provisions. NICARAGUA HANDBOOK 7 NICARAGUA HANDBOOK Weather & Climate As with other parts of Central and South because of the difference in altitude. The America, Nicaragua’s climate does not northern mountains will have temperatures conform to the four seasons model that we’re between 54° F and 68° F, again, depending on used to in North America. For example, you the time of day. can’t easily determine the temperature by the time of year it is. Rather, temperature is gaged Determining the amount of rainfall in by what region you are in. The temperature is Nicaragua is dependent on what region you broken up into three areas. are in. Concerning rainfall, Nicaragua is usually split into three regions: east, west, The first of these areas is the lowlands on and the mountains. The east usually receives the Pacific and Atlantic coasts. They are the much more rain than the west, and the hottest with temperatures ranging from 73° mountains in the north receive the least. F after sunset to 86° F and above during the daytime. However, there are seasonal fluctuations which create Nicaragua’s two seasons: the dry The second of these areas is the central region season and the rainy season. The dry season where temperatures will range between 63° F is usually between January and June. While and 77° F, depending on the time of day. the rainy season is usually between July and December. The third of these areas is the northern mountains, which are technically part of the central region but are significantly colder NICARAGUA HANDBOOK 8 NICARAGUA HANDBOOK languages. Nicaragua is a significant country Clothing in regards to emigration, since approximately Nicaragua is a warm tropical country for 2 million Nicaraguan citizens live abroad which you should come prepared with light (around 1 million migrants in 2019). To put clothing. A light jacket could be necessary that in perspective, that’s the same as 30% of for a visit to the Northern Area (Matagalpa, their current population. Estelí, Ocotal, etc.), as temperatures do drop significantly in those areas. Some parts of Nicaragua have more rainfall Language than others, but you should bring rainproof According to the Nicaraguan government, clothes to all of them since all of them incur Spanish is the official language. However, significant rainfall at times. their Spanish is different from traditional or European Spanish. Nicaraguan Spanish uses the more formal “ustedes” and “vos” conjugations instead of the “vosotros” and Society “tu” conjugations used in Spain. They also The latest UN data states that Nicaragua’s have a unique accent that is different from current population is 6,632,294 people.